House for sale in Geilenkirchen, Germany

Property Description: A two-story single-family house with outbuildings and two parking spaces, built in 1920. The outbuilding was constructed around 1950. No interior inspection has been conducted due to the poor condition and maintenance of the building. Restoration after demolishing the existing structures is not feasible in its current form (due to close proximity to neighbor's property). The costs for renovation and modernization to make it habitable are likely to exceed the value of the property after hypothetical renovation. Thoughts on Price: The property is listed at a price of 700,000 EUR, which reflects its current condition and the significant investment needed for renovation. There is potential for a discount of up to 30% on the market value, bringing the price down to 490,000 EUR. However, it is important to consider the additional costs associated with renovation and the overall feasibility of restoring the property to a livable state before making any decision to purchase.